This is how Volvo plans to climb above Mercedes, Audi and BMW in India

Just few days ago we heard that India's luxury car market has grown eight times in the last seven years. The future of the Indian luxury car surely looks bright, as now, the Swedish luxury car brand Volvo has decided to take a plunge in the Indian market with its two new offerings in the sub-Rs 30 lakh bracket.

According to an ET report, Volvo will bring its small luxury hatchback V40 diesel and V40 Cross Country with 1.6 litre petrol engine to India in the coming few months. The Scandinavian carmaker aims to achieve 65% growth and touch the 2,000-units mark in 2015.

Volvo’s managing director Tomas Ernberg shared the company’s plans with ET in an interview. He shared, “Volvo Auto India is aiming at a 15% market share in the medium term.” To achieve this, the company's expanding product portfolio and dealer network in key markets such as Mumbai and Delhi, and some of the smaller cities such as Vijayawada, will play a key role.

"We set out on a growth plan a few years ago. In the past three years, we have seen our dealer footprint increase to 20 from five and sales have increased multi-fold. We should be closing the year with 2,000 cars led by the newer compact car," Ernberg told ET.

Volvo also plans to bring its sedans and SUVs to the Indian shores. You can expect their new S60 T6 petrol sedan and a 4-cylinder diesel XC 90 SUV retailing in India by September. While Volvo has created a space for itself in Hyderabad and Tamil Nadu, where it has market share of 12-15%, the company's presence in Mumbai and Delhi is still minimal.

The company hopes to sell 200 cars in 2015 and 400 cars in 2016."We expect the market to grow 10-15% in 2015, but led by our new products we will grow faster albeit on a low base. But once we touch 2,000 units by the end of the year, the ball should start rolling and we will aim at 10,000 units in a few years' time," Ernberg told ET.